19 March 2021 Within hours of receiving a letter from 37 groups calling on S&P Global to review Adani Ports’ inclusion on its Dow Jones Sustainability Index (DJSI), the ratings agency giant has confirmed it will conduct a formal review. S&P wrote to Market...
Hiscox the latest insurer to rule out Adani Carmichael coal project.
4 March 2021 Last night, after announcing a new environment/social/governance (ESG) exclusion policy that rules out underwriting and investing in thermal coal, Arctic oil and gas exploration and tar sands, major insurance company Hiscox told Market Forces that they...
As Lloyd’s of London moves away from coal is this the final nail in the coffin for Adani’s access to insurance?
17 December 2020 Under pressure from the #StopAdani and #InsureOurFuture campaigns, Lloyd’s of London has just told its insurers to exclude new insurance for thermal coal mining, tar sands and arctic drilling by 2022 and phase out all insurance cover for these fossil...
Media Release: Lloyd’s takes a step away from coal, threatening Adani’s Carmichael project
17 December 2020 Lloyd’s of London will be publishing its first Environment Social and Governance (ESG) Report today, potentially ending the Adani Carmichael coal project’s ability to secure insurance in its marketplace. According to reports, Lloyd’s is recommending...
Media Release: Fidelis becomes 28th major insurer to rule out Adani Carmichael coal project
Wednesday 16 December 2020 In an email to Market Forces (available upon request, received Friday 11 December) specialty re/insurer Fidelis has confirmed that its recently published Environment and Sustainability Statement rules it out of underwriting the Adani...
The Economist invites company building massive new coal mine to present on climate risk
16 November 2020 The Economist Magazine’s Climate Risk Asia Week starting on 30 November includes a number of online events discussing the various aspects of climate risk. The one that particularly caught our attention is the session on Financing Infrastructure, which...
Adani Mining accidentally reveals true identity in monumental PR fail
November 6 2020 Yesterday, under the cover of the US Presidential Election, Adani Mining announced via coal-friendly media outlets that it was rebranding to “Bravus Mining and Resources”. However, this quiet name change soon turned into a public relations disaster...
Adani loses another insurer as Lloyd’s market feels the pressure
29 October 2020UPDATE: Lancashire and Ascot have both ruled insurance for the Adani Carmichael projectAnother Lloyd’s insurer that is providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal...
Investor Briefing: Adani Ports to haul Carmichael coal, exposing investors to reputational & financial risks
22 October 2020 Market Forces has compiled this briefing paper to inform existing and potential investors in Adani Ports and Special Economic Zone (Adani Ports) of the company’s establishment of Bowen Rail Company, which will transport coal for the controversial...
Adani forced to haul its own coal, driving up the cost of Carmichael
10 September 2020 Under the veil of the newly created Bowen Rail Company, Adani will be self-transporting Carmichael coal from pit to port. It appears that Adani tried to hide this development, with the new company’s website and media communications not mentioning...